Saudi Arabia Inflation February 2016

Saudi Arabia

Saudi Arabia: Inflation in February inches down following January's surge

March 21, 2016

In February, consumer prices declined 0.07% over the previous month, which largely contrasted the 1.93% increase tallied in January. January’s five-year-high increase reflected subsidy cuts in energy and some utilities prices, which were implemented early in the year. By categories, February’s decrease mainly reflected lower prices for communication, food and beverages as well as for furnishing and households.

Inflation came in at 4.2% in February, which was a notch below January’s 4.3%. Annual average inflation in February rose from January’s 2.4% to 2.5%, the highest rate in a year.

FocusEconomics Consensus Forecast participants expect inflation to average 3.2% in 2016, which is up 0.4 percentage points over last month’s projection. For 2017, the panel sees inflation averaging 3.3%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation February 2016

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Department of Statistics & Information (CDSI).

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